It’s just not logical to start a business without a website nowadays. People search for practically everything they need online, so you have to be there in order to be found. The core of your website is, of course, the domain name.
There are heaps of places you can purchase a domain from, such as GoDaddy.com. Currently, GoDaddy.com is the biggest domain name registrar and web hosting provider, so they’re a pretty trustworthy mob to get things rolling with.
Most new business owners usually get a domain for a year to start with, then as their business grows and becomes established, they’ll renew it the following year for a much longer registration period if practical.
Say years go by and you’ve worked really hard to be ahead of your competitors and in the top search results… have you secured your domain name so it doesn’t expire? Does that thought just scare the bejeezes out of you? Trust me, you’ll never want to let go of your domain name once you get it established…
Don’t let it go to waste.
Sad truth is… domains expire. There’s no one-time fee to own it forever (which sucks!). So, knowing the domain expiration process enables you to safeguard one of your (if not your only!) greatest business assets: your website. So what is the domain expiration process and how long does it go for? Let’s start with what happens when it’s merely on the verge of expiration…
Domain Name Renewal Notification
Your domain name “registrar” (the company you paid to get your domain), such as GoDaddy.com, will send out a renewal email 60 days before its expiration date. Then, a new notification is sent a month out, with follow-ups at 15, 10, and 5 days before expiration. The system gives a pretty fair warning and should compel you to renew well before the due date. If you don’t, and your domain name expires…things get complicated, not to mention costly.
Domain Redemption Period
Sounds pretty serious, doesn’t it? Don’t stress though, it’s actually a good thing! If (for some crazy reason) you missed the half-dozen emails your registrar sent regarding expiration and your domain does expire, it goes straight into a redemption period that lasts somewhere between 30 to 45 days. Now, it’s not all fun & games because your website and the emails associated with it will stop working. Yes, big sad face but….
The good news is, during the redemption period, you can get your domain back as if nothing ever happened! Do I hear a universal sigh of relief? There’s a price tag attached to redeeming though, but if it costs $80 , $100 or $200 (which totally depends on who the registrar is) it’s money well spent!
But wait – there’s a catch! (there’s always a catch!) During the redemption period, your registrar can auction your beautiful domain to a new owner, but they have to wait for the redemption period to end before taking possession. So, if you choose to redeem your site back, the new owner will get a refund and be sent back to the sidelines.
But what if nobody buys the domain during the redemption period and the owner doesn’t try to get it back? What then?
Registrar Drops Domain Name
If nobody buys the domain name during the redemption period and it’s not claimed back, the domain gets ‘dropped’ from the registry. That means it’s deleted from the registry and becomes available for the general public to purchase.. At this point, anyone can buy and use your prized domain. Eeek! Now, that’s scary!
The moral of the story is to renew your domain name before it expires – preferably during that whole email notification period. Otherwise, you’ll be crying while someone else gets to benefit from all the hard work you put into your domain name.
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